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Growth

'Natural selection' to drive market consolidation

3 minute read
The Adviser

Consolidation has been tipped once again as the future for mortgage lenders The Advertiser reported today.

Raine and Horne Financial Services general manager Gary Benzan said the flow-on effect of the US sub-prime crisis was changing the lending landscape in Australia and that mortgage providers would be forced to merge.

“What we are seeing is quite likely a process of natural selection,” he said.

According to Mr Benzan, smaller mortgage managers will be forced to review their business models and improve competitiveness to survive.

Published 12-02-08

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